Breaking news

Impressive Growth in Cyprus Tourism Revenue: €223.3m in Q1 2024, Surging 11.7% YoY

Revenue from tourism reached an estimated €223.3m in January–March 2024, rising 11.7% compared to €200m in the first quarter of 2023, Cystat said.

Based on the results of its Passengers Survey, in March, revenue from tourism reached €113m, compared to €97.8m in the corresponding month of 2023, recording an increase of 15.5%.

The average expenditure per person was €558.88 in March 2024 compared to €530.72 in March 2023 (up 5.3%).

Tourists from the United Kingdom, again Cyprus’ largest tourist market with 31.8% of the total in March, spent on average €73.49 per day, while tourists from Poland, the second largest market with 10.4% of total tourists, spent on average €75.86.

Tourists from Germany, the third largest market with 9.8%, spent on average €98.66 per day, while tourists from Greece with 9% of the market, spent on average €43.37 per day.

Finally, tourists from Israel, the fifth place on the market with 8.2%, spent on average €143.21 per day.

Oura Ring 5 Launches With Updated Health Monitoring Features

Introducing A Redefined Wearable Experience

Oura has unveiled its latest breakthrough in wearable technology with the launch of the Oura Ring 5, positioned as the smallest smart ring available on the market. According to Oura CEO Tom Hale, the new design is a significant evolution over previous models, being 40% smaller than its predecessor. Despite the reduced size, the ring maintains the comprehensive suite of sensing, tracking, and accuracy features that have become synonymous with the Oura brand.

Revolutionizing Design And Functionality

Hale emphasized the transformative potential of the Oura Ring 5, stating, “By reimagining Oura Ring 5 to be smaller, easier to wear, and pairing it with our most advanced software yet, we’re making it possible for many more people to wear Oura every day — and to benefit from the personalized, predictive health insights that come with it.” Scheduled to begin shipping on June 4, pricing starts at $399 for base finishes and $499 for premium options such as gold and brushed silver. Complementing the launch is a portable charging case, available for $99.

Elevated Health Tracking Capabilities

Beyond its sleeker form factor, Oura is expanding its health tracking functionalities. The new generation of rings, along with compatible features on its generation 3 and 4 devices, will now leverage an enhanced Health Radar. This suite of features monitors key biometric signals, including body temperature, respiratory rate, and even blood pressure patterns during sleep, aiming to detect potential cardiovascular risks. Additional improvements include refined tracking for live activities like running and cycling, as well as a GLP-1 insights feature that supports users managing weight-loss medications.

Strategic Growth And Market Validation

Oura has expanded beyond sleep tracking into broader health and wellness services in recent years. The company was included multiple times on the CNBC Disruptor 50 ranking and placed No. 14 in 2026. Oura also confirmed that it confidentially filed IPO paperwork with the U.S. Securities and Exchange Commission, although no public listing timeline has been announced. According to the company, more than 5.5 million rings have been sold globally. Projected 2026 sales are approaching $2 billion, while paid memberships are expected to exceed five million users during the current quarter.

Securing Future Innovation

The company’s robust financial growth is underscored by a $900 million Series E funding round in October last year, which valued Oura at $11 billion. Additionally, a strategic partnership with on-demand healthcare platform Counsel Health is set to integrate AI-enabled care, empowering users to receive personalized health advice directly via the Oura app. This collaboration, available in 43 U.S. states, further demonstrates Oura’s commitment to delivering predictive and preventative health solutions.

Oura’s advancements highlight a disciplined approach to innovation that not only redefines wearability but also expands the broader capabilities of digital health, positioning the company as a leader in the competitive landscape of smart wearables.

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